Porch Group, Inc. (NASDAQ:PRCH) Receives $5.34 Consensus Target Price from Analysts

Porch Group, Inc. (NASDAQ:PRCH) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $5.34.

A number of equities analysts have commented on the company. Oppenheimer increased their target price on Porch Group from $4.00 to $7.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Loop Capital reissued a “hold” rating and issued a $6.00 price objective on shares of Porch Group in a research note on Monday, December 9th. Benchmark reaffirmed a “buy” rating and set a $7.00 target price on shares of Porch Group in a research note on Tuesday, October 29th. Stephens upped their target price on shares of Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, Craig Hallum raised their price target on shares of Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, December 6th.

Porch Group Stock Up 8.8 %

PRCH opened at $5.82 on Tuesday. The company has a market cap of $695.72 million, a PE ratio of -8.31 and a beta of 2.14. Porch Group has a twelve month low of $1.05 and a twelve month high of $6.03. The company has a 50-day moving average price of $3.00 and a 200 day moving average price of $2.09.

Insider Activity

In other news, CFO Shawn Tabak sold 15,000 shares of Porch Group stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $2.00, for a total transaction of $30,000.00. Following the sale, the chief financial officer now owns 278,298 shares of the company’s stock, valued at approximately $556,596. The trade was a 5.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 23.46% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PRCH. Zacks Investment Management acquired a new position in shares of Porch Group in the 3rd quarter valued at $32,000. Mackenzie Financial Corp raised its holdings in Porch Group by 102.4% in the 2nd quarter. Mackenzie Financial Corp now owns 23,908 shares of the company’s stock valued at $36,000 after buying an additional 12,097 shares during the period. Caprock Group LLC acquired a new position in Porch Group in the third quarter valued at about $37,000. SG Americas Securities LLC purchased a new position in Porch Group during the third quarter worth about $42,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Porch Group during the third quarter valued at about $46,000. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

Porch Group Company Profile

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.